Good on the President-elect for this decision:
President-elect Barack Obama is not planning to implement a windfall profit tax on oil companies because prices have dropped below $80 a barrel, an aide said on Tuesday.
“President-elect Obama announced the policy during the campaign because oil prices were above $80 per barrel,” an aide on Obama’s transition team said. “They are currently below that now and expected to stay below that.”
Oil prices have fallen from a record $147 a barrel in July to under $50 this week.
Of course, no matter what the price of oil, a windfall profits tax is a terrible idea so the President-elect should not have waited until the price of oil fell before making the decision to ditch the tax. Additionally, it would have been nice if the President-elect had taken a stance against the windfall profits tax irrespective of the price of oil during the campaign. But I suppose that was not possible; the “reality-based community” would have objected if Barack Obama was actually reality-based when it came to this issue.
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
Hahaha
OccamsRazor (Diary) Wednesday, December 3rd at 2:14AM EST (link)After years of snickering at the Koskids, lurking, I never did open an account. I’m tempted to do just that now…just…to…laugh…in their metaphorical face everytime BO breaks a promise.
For those who are lurking here: Hahahhaha!!!
Kowalski
OccamsRazor (Diary) Wednesday, December 3rd at 2:22AM EST (link)So many promises, so little time.
Hahahah….
If Obama turns pro-life...
johninca Wednesday, December 3rd at 2:48AM EST (link)…which I pray he will, I may actually end up liking this guy. I’m definitely enjoying the way he’s putting the screws to his naive progressive supporters on issue after issue.
Leverage
OccamsRazor (Diary) Wednesday, December 3rd at 3:33AM EST (link)I may be personally enjoying broken promise after broken promise as he sticks another one after another one right into the heart of the left.
Have NO doubt however, president-elect is and axel rod are angling for four more.
That leverage is OURS to use and abuse now and for years. The fact that he’s chastising the left so early means we can mock them, with reason, allllll this time.
Chewy inside filling and all.
Hahahha
Finger in the wind policy making
renegade Wednesday, December 3rd at 7:32AM EST (link)Typical sticking you finger in the wind policy making. Last summer the oil companies were the big evil meanies pushing up their prices to over $4.00/gal causing pain on all levels. They were a big fat target easy to to demonize, and Barry using the socialist class warfare diatribe of how he’s going to punish these guys for being so greedy. But now the oil companies aren’t the big greedy meanies anymore. Filling your tank for a fraction of what it was a few months ago is cool. Barry knows he’d look like an idiot by pursuing a WF profits tax now, first because it would raise the price of the product, and second for now, the oil companies are buddies with the consumer.
We all know how "The One" operates...
jonnot Wednesday, December 3rd at 8:34AM EST (link)when he first proposed the Windfall Profits Tax idea vis-a-vis the oil industry, he NEVER mentioned any acceptable level, i.e. $80.00 per barrell. This is thrown out there now because the president-elect is incapable of EVER admitting that he is or was wrong about anything; he always goes back and qualifies/reconstructs his statements so that they fit his current agenda. No Windfall Profits Tax for now, but I fear increasing gasoline taxes at the pump are just around the corner–the better to finance his infastructure “vision”.
Same ol' lies to get elected
CFPeterson (Diary) Wednesday, December 3rd at 9:58AM EST (link)Just like Clinton promised tax cuts in 1992 and raised them when elected. When I saw the headline on Drudge I LOL’d.
Obama is doing the right thing for the wrong reasons. Taxes on corporations always eventually are paid by the consumer, and taxes on gas hurt more those who earn the least, so the whole concept was just another tax on Joe Sixpack (even though he will deny it).
Since the winds of hate for big oil blown by the mainstream media have died down with the low gasoline prices this story will be relatively ignored by the masses…